153 / 172
151
Note 28.2 Financial derivatives hedging transactions:
Pursuant to the announcement issued by The Institute of Chartered Accountants of India dated March 29, 2008
in respect of forward exchange contracts and currency and interest rate swaps, the Company has applied the
hedge accounting principles set out in the Accounting Standard-30 ‘Financial Instruments: Recognition and
Measurement’. Accordingly, range forward contracts are Marked-to-Market and the gain aggregating
`
0.70 cr
(Previous year gain
`
0.11 cr) arising consequently on contracts that were designated and effective as hedges of
future cash flows has been recognised directly in the hedging reserve account. Actual gain or loss on exercise of
these range forward contracts or any part thereof is recognised in the Consolidated Statement of Profit and Loss.
Hedge accounting will be discontinued if the hedging instrument is sold, terminated or no longer qualifies for
hedge accounting.
(
`
cr)
Note 28.3 Commitments
As at
March 31, 2016
As at
March 31, 2015
Estimated amount of contracts remaining to be executed on capital
accounts and not provided for (net of advances)
47.13
121.86
Note 28.4 (A) Related Party information
Name of the Related Party and nature of relationship:
No. Name of the Related Party
Description of relationship
Other Related Parties with whom transactions have
taken place during the year
01 Amal Ltd
Associate companies
02 Atul Ayurveda Ltd
03 Atul Crop Care Ltd
04 Atul Entertainment Ltd
05 Atul Hospitality Ltd
06 Atul Aarogya Ltd (formerly known as Atul Medical
Care Ltd)
07 Atul Seeds Ltd
08 Jayati Infrastructure Ltd
09 Lapox Polymers Ltd
10 Osia Dairy Ltd
In Atul Bioscience Ltd
11 Aagam Holding Pvt Ltd
Enterprise over which control exercised by the Key
Management Personnel
12 Samveg Agencies Pvt Ltd
13 Key Management Personnel
In Atul Ltd
S S Lalbhai
Chairman and Managing Director
S A Lalbhai
Managing Director
B N Mohanan
Whole-time Director and President - U&S
T R Gopi Kannan
Whole-time Director and CFO
In Atul Bioscience Ltd
P Chebiyyam
Managing Director
In Atul Europe Ltd
E Sharkey
Director
In DPD Ltd
A L Brackpool
Director
14 Relatives of Key Management Personnel
Saumya S Lalbhai
Son of S A Lalbhai
Nishtha S Lalbhai
Daughter of S S Lalbhai
15 Welfare funds
Organisations over which significant influence
exercised
Atul Foundation Trust
Atul Kelavani Mandal
Atul Rural Development Fund
Atul Vidyalaya
Notes
to the Consolidated Financial Statements